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2:46 a.m. Oct. 4, 2021 - By Tomi Kilgore
OpGen stock rockets after upbeat revenue updateShares of OpGen Inc. rocketed 31.9% in active premarket trading Monday, after the precision medicine company provided a revenue update following the recent Food and Drug Administration clearance of its Acuitas AMR Gene Panel to aid in the diagnosis of severe infections. Trading volume spiked to 5.1 million shares ahead of the open, compared with the full-day average of about 1.8 million shares. The company said preliminary third-quarter revenue was approximately $1.2 million, compared with the FactSet consensus of $800,000. The stock has rallied 35.3% year to date through Friday, while the S&P 500 has gained 16.0%.
2:49 a.m. July 23, 2021 - By Tomi Kilgore
SOPHiA Genetics set to go public at a $1.1 billion valuationSOPHiA Genetics SA is set up for a public debut Friday, as the Switzerland-based data-driven medicine company's initial public offering price overnight at $18 a share, which was in the middle of the expected range of between $17 and $19 a share. The company sold 13.0 million shares in the IPO to raise $234 million, with the IPO pricing valuing the company at about $1.14 billion. The stock is expected to begin trading some time after the open on the Nasdaq under the ticker symbol "SOPH." J.P. Morgan, Morgan Stanley, Cowen and Credit Suisse are the joint book-running managers. The company recorded a net loss of $39.3 million on revenue of $28.4 million in 2020, after a loss of $33.8 million on revenue of $25.4 million in 2019. The company is going public at a time that the Renaissance IPO ETF has lost 1.0% over the past three months while the S&P 500 has gained 4.5%.
2:01 a.m. May 4, 2021 - By Tomi Kilgore
Pfizer beats earnings expectations and lifts guidance, as COVID-19 revenue outlook increases 73%Shares of Pfizer Inc. jumped 1.6% toward a near five-month high in premarket trading Tuesday, after the drug giant beat earnings expectations and raised its full-year outlook, as revenue expectations for its COVID-19 vaccine jumped 73%. Net income rose to $4.88 billion, or 86 cents a share, from $3.36 billion, or 60 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share increased to 93 cents from 63 cents, and beat the FactSet consensus of 77 cents. Revenue grew 45% to $14.58 billion, above the FactSet consensus of $13.54 billion. Vaccine revenue tripled, to $4.89 billion from $1.61 billion, while oncology revenue rose 18% to $2.86 billion and internal medicine revenue grew 11% to $2.59 billion. For 2021, the company raised its guidance ranges for adjusted EPS to $3.55 to $3.65 from $3.10 to $3.20 and for revenue to $70.5 billion to $72.5 billion from $59.4 billion to $61.4 billion, as revenue expectations for the COVID-19 vaccine (BNT162b2) increased to $26 billion from $15 billion. The revenue projection for BNT162b2 includes guidance for 1.6 billion doses expected to be delivered this year. The stock, which is on track to open at the highest prices seen since mid-December, has gained 8.2% year to date through Monday, while the S&P 500 has advanced 11.6%.
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